Dealing with IRS back-taxes can be an overwhelming and stressful situation for individuals. However, seeking the assistance of an experienced attorney can make a significant difference in resolving the issue. One powerful tool that attorneys utilize to help their clients with IRS back-taxes is filing an Offer in Compromise (OIC). In this blog post, I’ll […]
Read MoreEstate planning is essential for anyone who wants to ensure that their assets and property are distributed according to their wishes after their death. It is also crucial for anyone who wants to minimize the taxes and expenses associated with the transfer of their assets. Some specific situations where estate planning is particularly important include: […]
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Ex-wives can seek relief from IRS back taxes by applying for Innocent Spouse Relief, which is a program offered by the IRS. 26 U.S.C. § 6015(a)(1). Innocent Spouse Relief relieves an ex-wife of responsibility for paying any “additions to tax, interest, and penalties” when an ex-husband under-reported income or took unauthorized business deductions on an […]
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Innocent Spouse Relief should be sought by any divorced woman who is suffering from unpaid IRS back taxes because of an ex-husband’s bad acts. These bad acts include the ex-husband’s failure to include self-employment income or gambling earnings on an IRS 1040. Sometimes an ex-husband improperly claims business deductions from his self-employment gross revenues. Frequently, […]
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Tax attorney Robert Schaller is frequently asked the question: “What is the difference between the Tax Code and Treasury regulations in the offer in compromise context?” The Key to understanding tax solutions to IRS back taxes is an understanding of the interplay between United States Tax Code and United States Treasury regulations. Each is examined […]
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The IRS is set to mail the IRS Collection CP14 Notice to millions of taxpayers this June who are suffering from unpaid IRS back taxes. Put simply, an IRS NP14 Notice is sent by the IRS when the IRS believes the taxpayer owes unpaid taxes. What should I do after receiving an IRS CP14 Notice? […]
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IRS back taxes are collected by the IRS through a formal program known as the IRS Collection Process. The collection of IRS back taxes can be brutal and result in wage garnishments, bank levies, and IRS tax liens. Affirmative action by your tax attorney is best; Ignoring the IRS leads to disaster. How are IRS […]
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IRS Offer in Compromise & IRS Criminal Penalties Attorney Robert Schaller says taxpayers may submit an IRS offer in compromise application to resolve IRS criminal penalties. The Secretary of the Treasury may compromise any criminal liability arising under the internal revenue laws prior to the reference to the United States Department of Justice for prosecution or […]
Read MoreIRS back-tax debt is treated differently from credit cards and medical bills, according to attorney Robert Schaller.
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An Offer in Compromise is an agreement between a taxpayer and the IRS that settles a tax liability for payment of less than the full amount owed. IRM § 5.8.1.2.1 (09-23-2008); Adamowicz v. US, 08-888C, Pg. 5 (D.C. Ct. Fed. Cl. 11/21/2011). Together, 26 U.S.C. § 7122 (Offer in Compromise) and 26 U.S.C. § 7121 (closing agreements) […]
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